| Weyerhaeuser Announces Final Proration Factor for Shares Tendered in Exchange Offer |
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Federal Way, Washington, USA, 12 March 2007 -- /PRNewswire/ -- Weyerhaeuser Company (NYSE:WY) announced that a total of 114,204,244 common shares of Weyerhaeuser Company and exchangeable shares of Weyerhaeuser Company Limited were validly tendered for exchange for 284,067,852 shares of Domtar Corporation common stock pursuant to Weyerhaeuser's exchange offer that expired on 06 March 2007.
The total shares tendered included 197,699 shares tendered by odd lot shareholders not subject to proration. Under the terms of the exchange offer, 11.1442 shares of Domtar Corporation common stock will be exchanged for each Weyerhaeuser common share and exchangeable share accepted for exchange in the offer.
The exchange offer is part of the previously announced transaction to combine Weyerhaeuser's Fine Paper business and related assets with Domtar Inc. (NYSE/TSE: DTC). The transaction created a new company called Domtar Corporation (NYSE:UFS).
Weyerhaeuser was obligated to accept a maximum of 25,490,196 Weyerhaeuser shares for exchange in the exchange offer. Accordingly, 22.1851% of the Weyerhaeuser common shares and exchangeable shares validly tendered by each tendering shareholder other than odd lot shareholders will be exchanged for Domtar Corporation shares on a pro rata basis. Unexchanged shares will be returned to tendering shareholders.
Holders of Weyerhaeuser common shares will receive shares of Domtar Corporation common stock to which they are entitled in uncertificated form, and notices of the number of whole shares of Domtar Corporation common stock credited to their accounts will be mailed to them. Holders of exchangeable shares of Weyerhaeuser Company Limited will receive certificates representing the number of whole shares of Domtar Corporation common stock to which they are entitled.
Under terms of the offer, fractional shares of Domtar Corporation common stock will not be exchanged. Instead, fractional shares will be aggregated and sold, and the net cash proceeds of such sale will be distributed to tendering shareholders with fractional interests.
About Weyerhaeuser
Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2006, sales were USD 21.9 billion. It has offices or operations in 18 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution, and sale of forest products; and real estate construction, development, and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at www.weyerhaeuser.com .
Source: Weyerhaeuser Company
Web site: http://www.weyerhaeuser.com/
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